Corebridge Financial Inc. Has $26.96 Million Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Corebridge Financial Inc. reduced its stake in Intercontinental Exchange Inc. by 3.9%, selling 6,415 shares during the first quarter, bringing its total holdings to 156,271 shares valued at approximately $26.96 million.
• Several institutional investors increased their positions in Intercontinental Exchange, with notable stakes raised by Brighton Jones LLC by 51.3% and First Trust Advisors LP by 703.3% in the fourth quarter.
• A number of analysts have raised their price targets for Intercontinental Exchange, with the consensus rating currently set at "Moderate Buy" and a target price of $194.92, reflecting positive market sentiment.

Corebridge Financial Inc. lowered its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 3.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 156,271 shares of the financial services provider's stock after selling 6,415 shares during the quarter. Corebridge Financial Inc.'s holdings in Intercontinental Exchange were worth $26,957,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ICE. REAP Financial Group LLC raised its stake in Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after buying an additional 91 shares during the period. Tsfg LLC raised its stake in Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after buying an additional 103 shares during the period. Menard Financial Group LLC acquired a new stake in Intercontinental Exchange during the 4th quarter worth $29,000. Rakuten Securities Inc. raised its stake in Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after buying an additional 143 shares during the period. Finally, McClarren Financial Advisors Inc. acquired a new stake in Intercontinental Exchange during the 1st quarter worth $30,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Insider Buying and Selling at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 3,850 shares of Intercontinental Exchange stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total transaction of $686,570.50. Following the completion of the transaction, the general counsel owned 46,293 shares in the company, valued at approximately $8,255,430.69. This trade represents a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $183.09, for a total value of $27,463,500.00. Following the transaction, the chief executive officer owned 1,951,705 shares of the company's stock, valued at $357,337,668.45. The trade was a 7.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 448,569 shares of company stock valued at $81,233,566 in the last three months. Corporate insiders own 1.00% of the company's stock.

Intercontinental Exchange Stock Down 0.1%

Shares of NYSE:ICE traded down $0.18 during trading on Thursday, hitting $177.12. 2,170,883 shares of the company were exchanged, compared to its average volume of 3,129,241. The stock has a market cap of $101.39 billion, a price-to-earnings ratio of 34.00, a P/E/G ratio of 2.11 and a beta of 1.11. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The firm has a fifty day moving average price of $182.15 and a two-hundred day moving average price of $174.36. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.52 EPS. As a group, research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on ICE shares. UBS Group raised their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods increased their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Piper Sandler increased their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Barclays increased their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Morgan Stanley increased their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Intercontinental Exchange has a consensus rating of "Moderate Buy" and a consensus price target of $194.92.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.